The Detroit Fintech Association, an organization created within financial media company Benzinga, announced on Thursday it is now planning to make Detroit as a hub for fintech innovation and to grow the existing culture of technology-driven financial services through a campaign raising awareness of the incredible financial technology hub that is forming in the city.
Speaking about the organization, Jason Raznick, Founder and CEO of Benzinga, stated:
“For a long time Benzinga has connected FinTech companies around the globe, country and especially here in Detroit. We saw other cities solidifying similar ecosystems – Boston, New York, Chicago, St Louis – and want to shine a spotlight on the incredible FinTech scene forming right here in Detroit.”
The Detroit Fintech Association also aims to:
- Educate members on emerging trends and technologies in FinTech
- Serve as a research and information hub for members
- Establish outreach programs to provide educational programming for youth in underserved communities
- Connect FinTech entrepreneurs and innovators with investors
- Create a talent hub, pairing the best technology talent with the best FinTech firms in the region
- Partner with the State of Michigan to recruit the best FinTech firms to Michigan and city of Detroit
The association also revealed that companies opening in Detroit join a line-up containing fintech companies such as Quicken Loans and its fully digital Rocket Mortgage, Rocket Loans, In-House Realty, and many others. Dan Gilbert, Chairman and Founder of Detroit-based Quicken Loans, commented:
“As Detroit continues to grow as the center of our country’s FinTech revolution, the work that the Detroit Fintech Association is doing is critical. Not only for Detroit and the region, but also for the multiplying FinTech companies that leverage the specialized FinTech environment that can only be found in Detroit. There are no greater opportunities for FinTech startups and other financial technology companies than in Detroit. The talent is here. The experience is here. The venture capital is here. The energy is here. And the best FinTech ecosystem, which is anchored by the largest online lender in the world and its 17,000+ FinTech employees, is right here in the middle of all of it.”
The Detroit Fintech Association is partnering with the Michigan Economic Development Corporation (MEDC) to achieve its goals and create an entrepreneurial environment in Detroit and throughout Michigan for FinTech companies. Fred Molnar, Vice President of Entrepreneurship and Innovation for the MEDC, added:
“We are pleased to partner with the Detroit Fintech Association around our shared mission to bring incredible talent to the state and to support this exciting and emerging sector.”